Adelphi story in Forbes

“They watched the price move down, and when the hotel became available this year for $4.5 million, both the time and the price were right. “We pounced on it,” said Mildé. While balking at calling the hotel a steal at that price, he allowed, “It was an opportunity. We can invest back into the hotel, putting $6 or $7 million into renovating it, and end up with a first class hotel at the original asking price.”